Partnership And Corporation Baysa Lupisan Answer Key | 2018
One day, the corporation took a bank loan for a new dryer. The loan defaulted. The bank went after the corporation’s assets only — not Mang Baysa’s house, not Aling Nena’s piggery.
In a corporation, who manages the business? Answer: The Board of Directors, elected by shareholders.
Since I don’t have access to the specific 2018 answer key you're referring to, I’ll create an original, illustrative story that explains the key differences between a and a corporation — the kind of story that could appear as a case study in a 2018 business law exam, with an "answer key" style breakdown at the end. The Rice Mill Venture: A Tale of Partnership and Corporation Barangay Lupisan, 2018
Under the Corporation Code of the Philippines (Batas Pambansa Blg. 68, as of 2018), what document must be filed to create a corporation? Answer: Articles of Incorporation with the Securities and Exchange Commission (SEC). partnership and corporation baysa lupisan answer key 2018
Aling Nena realized: in a partnership, there is and mutual agency (each partner can bind the business and the other partners). Part Two: The Corporation Frustrated, they decided to change structure. They invited three other farmers — each contributing ₱20,000 — to form a corporation : Lupisan Farmers’ Rice Mill, Inc. They filed articles of incorporation with the SEC, issued shares of stock, elected directors, and appointed Mang Baysa as general manager.
It seems you're asking for a story that involves concepts, possibly tied to a Filipino context ("baysa lupisan" — which might be a name or a typo for "bansa" or "Bais City"?), and an "answer key 2018" (likely a reference to a test or exam answer key for a business law or organization subject).
Mang Baysa grumbled: “But now we have annual meetings, board resolutions, and audited reports. And I can’t just decide alone — the board votes!” By harvest season 2018, the corporation thrived. They raised more capital by selling shares to the whole barangay. They even hired a lawyer to ensure compliance. One day, the corporation took a bank loan for a new dryer
Mang Baysa and his friend Aling Nena were farmers in Lupisan. For years, they dreamed of putting up a rice mill to serve their village. They had no big capital, only their savings and hard work. In January 2018, they agreed orally: “Let’s combine our money. You buy the husker, I’ll provide the shed. We share profits 50-50.”
They called it . For three months, it worked well. They shared losses when the machine broke. They shared decision-making. But one day, Mang Baysa borrowed money from a supplier in the name of the business without telling Aling Nena. The supplier demanded payment from both personally.
What type of business organization did Baysa and Nena first form? Answer: General partnership — formed by mere agreement, with mutual agency and unlimited liability. In a corporation, who manages the business
“This is better,” Aling Nena said. “We only lose what we invested. My family’s future is safe.”
“Why me?” Aling Nena cried. “I didn’t agree to that loan!”
The supplier replied, “In a partnership, each partner is personally liable for business debts. Your personal savings, your car — they can be taken to pay.”
Why did they convert to a corporation? Answer: To limit liability, allow more investors, and ensure perpetual existence.
What is the main disadvantage of a partnership shown in the story? Answer: A partner can bind the partnership without the other’s consent (mutual agency), and each partner is personally liable for all debts (unlimited liability).